Palin’s Answer Re the Bailout Should Still Scare the Hell Out of You!

It’s been over two years since George Bush announced, in his typically garbled fashion, that the executive branch of government was going to step in to loan money to the failing automobile industry. This announcement came after Congress was unable or unwilling to support this “bail out”. Bush explained the need for such a bailout by saying that the bailout was the “more responsible” option, and that in the absence of these loans, the failure of the auto industry would inevitably lead to “worsening of an already weak job market,” and a “deeper and longer recession.” In December of 2008, before he had even been inaugurated, President-elect Barack Obama characterized the bail out as “necessary” to avoid devastating consequences to the US economy. He explained that “With short term assistance provided by this package, the auto companies must bring all their stakeholders together, including labor, dealers, creditors and suppliers, to make the hard choices necessary to achieve long-term viability.”

“I would have done what the GOP [senators] did yesterday and said ‘no’ to additional bailout efforts of one industry [the automobile industry, whose proposed federal bailout was stopped in the Senate December 11]. Picking winners and losers in Washington, D.C., is a dangerous thing to do when you’re talking about a system that supposed to be based on free enterprise. When you talk about rewarding for work ethic and good management decisions and then consequences are the results of the opposite of that, and those decisions lead to some mistakes that are made in some industries, taxpayer bailouts should not be looked to as the be-all, end-all solutions…

I think the GOP did the right thing yesterday in saying, “Look, we still want more information before one industry — in this case, the auto industry — gets more taxpayer assistance until everybody knows what those dollars would be used for and how it will lead to success in this industry.”

In April of2010, General Motors announced that the company paid $4.7 billion to the U.S. government and $1.1 billion to the Canadian government, fulfilling its obligation agreed to when it received its initial bailout funds. In total, GM received $52 billion from the U.S. government, but only $6.7 billion of this amount was considered a loan. The company already paid back $2 billion, so this $4.7 billion is the last payment. The auto industry may not have fully recovered, but we are now be able to realistically consider the impact of the auto industry bailout. We still may not know exactly what would have happened if the auto industry was allowed to implode, but it would have probably involved significant unemployment and a major redefinition of the global auto industry.

Thus the auto bailout worked, and we can only imagine the disaster for the country if Palin has been allowed to determine the fate of the auto industry, and the economic stability of the entire country.

Even George Bush and Mitt Romney have now acknowledged that the auto bailout was essential to “shoring up our economy”. Jack Cafferty of CNN explained after listening to Palin speak about the bail out that her answer was one of the most pathetic pieces of tape he had ever heard. He declared that if you weren’t scared about the possibility of having her a heart beat away from the presidency, you should be. We were scared then, and she was only running for the vice presidency. We should be even more scared now, as she positions herself to be a contender in the 2012 race.

She is a snake with a forked tongue…she has not ever shed her mean girl snake skin. The question is whether voters will ultimately reject her and teach her a lesson, or get sucked into the dark side of the human social experience.

Sarah Palin has NO understanding of the importance of the auto industries — and the industries that are part of their supply chain — or she wouldn’t have uttered such nonsense. Instead of unemployment at 9%, we’d be at 20% without that bailout. (And, no, I am not involved in that industy, but I am appreciative of how much of GNP it represents.)

She scares the heck out of me, just because for some reason the GOP will not call her out on anything…oh, there are snide comments here and there, but they are terrified to cross her. Oh, McCain, what a Pandora’s curse you released. Can we have a do over?

Sarah Palin’s answer to this problem would of been to board her bus and give history lessons to America on how the South beat the North in the Civil War while asking Americans to give their last dime to SarahPac.

Hello Malia! This has been one hell of a bus (laugh) ride that $P took this past week! President Obama has been diligently trying to get the economy back into sound shape considering the huge mess he inherited. The man must be commended for the brazen action he took, after much careful consideration of course; including a helping hand for General Motors and Chrysler. Even the provincial government here in Ontario helped GM Canada and Chrysler Canada; all loans have been repaid. What the hell does $P know about the auto sector let alone the economy? Just think, if GM did not get a hand, $P would not be able to have that big Cadillac Escalade that Willow drove when she was pinched for speeding!

abbafan,
Thank you. It wasn’t just the American auto industry that faced a crisis, and we were not the only government to recognize the need for government intervention. Palin acts as if obama did this without the consultation of advisors and Bush himself. Now that the aid helped and the companies have repaid the loans, its still not enough!

I just read Jason Linkins piece on HP about the Sunday talk shoes. He went bananas ( as he should) over the NUTTY things she said on Fox and the OUTRIGHT lies. She says Paul Ryans plan saves Medicare and Obama is lying. NOT TRUE! His plan will literally bankrupt anyone with health problems. Her lies are beyond evil and sinister because of the millions of people it will hurt. She cares about no one and Ryan is clueless and in bed with the health care industry. And these old white men who love her?? She wants to take away Medicare. To say it doesn’t is an outright lie. Her stupid followers nod their heads. I hate her guts!!!

I had to add this. I hope it’s ok. I’m so sick of her stupidity. If she was president the country would die. Maybe that is what they want for their end tImes. She is a complete ignoramus on issues of the economy. You should see what she said she would do if she was president. Economists say the kinds of things she suggests would drive us deep into a depression.
She is a psychopath stupid ignoramus about policy. She knows how to make a buck that’s her only strength!

Lisabeth,
Your comments are exactly the reason for this blog and the books that I have written. I keep thinking that people will wise up, even the conservatives I know, but it just goes on and on! Malia

I love Jack Cafferty – he’s always stated straight up with no holds barred what a mess, a liar and an idiot palin is. His disqust is clearly visible when he talks about her. I’m depressed today. I’ve had an overload of palin and the gop. I’m disqusted and have lost faith in our country, our leaders and the appalling media attention to this grifter over more relevant and important news. If we counted how many times they write an artice about this loser and refer to her as a potential 2012 candidate it’s stunning. She hasn’t announced it but the media has over and over and over again, giving her relevance. I’m sick of hearing about the scott walkers, the gop war on women, the tax credits for the billionairs and the corruption in this country. I’m angry that palin and her trailer trash family moved to Arizona – and Arizonians haven’t protested in some way after the horrific shooting, her blood libel comments and her targeting Gabby Giffords. They should send her packing. And I’m disqusted this woman just paid 1.7 million on a “vacation’ home from donations of ill informed, rabid followers. I’m sick of her face in the news, sick of her screeching voice and hypocrisy, sick of her attacking our president and his family, sick of seeing her dysfunctional kids, sick of her lies and SICK of the dumbing down of our country. And really, REALLY sick of the way she keeps getting away with it. if I had another country to go to, i would leave. That’s how frustrated and angry i am today.

Excellent article Malia. If Bush/Obama had not supported the car industry, we’d be much worse off. The Tparty dotards will never understand this or respond to reason or rational analysis

I’m convinced now that the Tparty/Big Industry/Evangelical trinity
has such a rabid following that they would condone even murder if it was
G_d’s will”

Whatever “spokeperson” belongs to any of those groups has complete credibility no matter what they say, do, or codify into law.

Palin is the biggest beauty contestant they have for their trinity, and she may in fact get the nomination. $Paylin would love to start a war with Iran to prove how tough she is, and how patriotic it would be to burn those pagans and their children to death in a missile strike. In the bible, there is even a precedent for destroying a city complete with kids and pets. Why not, since the bible said so, it must be G_d’s wil.

I will be leaving the USA in 3 years as we are turning into a christian terrorist police state driven by “faith based” ideology.

An excellent post Ms Litman and I concur in your assessment of “sista Sarah – the half governor” – but I maintain that the voter aggregate in total will not fall her line of “BS” – [a technical term] in the fall of 2012. And while the danger of a “Palin like” mountebank systematically hypnotizing a portion of the media driven electorate is real, I for one do not wish to blow it up proportionally beyond the threat of one party “rule” from every state house and legislature in the land.
The dominance of the rabid reactionary right at the state and local levels with anti abortion legislation and redistricting – will impact all our lives far more suddenly and dramatically then anything the Tundra Twit says or does in the next 18 months.
And once again I do not disagree with your premise at all but I say now once again, perhaps with more felling then before – “Sista Sarah’s 15 minutes are up”